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Under AAA rules, parties to AAA cases agree that the arbitration award can be entered as a judgment in any federal or state court with jurisdiction. This means that the court can enforce it like it was any other court judgment.
If a party to an arbitration wishes to challenge an award for any reason, they need to make an application to a court except in the rare case where the parties' agreement provides for some type of appellate proceeding within the arbitration. Challenges to an Arbitration Award adr.org ? sites ? files ? document_repository adr.org ? sites ? files ? document_repository
"(1) The award shall be made within a period of twelve months from the date the arbitral tribunal enters upon the reference.
Recognition or confirmation of an award is usually sought by filing a petition. The party seeking recognition and enforcement or confirmation of an award must submit to the court a copy of the award and the parties' arbitration agreement. Challenging and Enforcing Arbitration Awards: USA globalarbitrationreview.com ? know-how ? report globalarbitrationreview.com ? know-how ? report
Arbitration claimants have access to the same collection tools as in a court judgment: if a respondent fails to pay an arbitration award, the claimant may take the award to court and have it converted to a judgment.
Motion to Enforce Arbitration Award Unlike a judgment obtained during court proceedings, an arbitrator's award is not directly enforceable. Until confirmed or vacated by court proceedings, an arbitration award has no more force or effect than a contract in writing between the parties to the arbitration. Confirming and Enforcing An Arbitration Award - Schorr Law schorr-law.com ? confirming-and-enforcing-an-ar... schorr-law.com ? confirming-and-enforcing-an-ar...
Many arbitration cases end with a settlement between parties, either through direct negotiation or through mediation. Others end with an award. If a claimant is awarded damages, the respondent must pay within thirty days of receiving the written award, unless the respondent files a motion to vacate.
Arbitration claimants have access to the same collection tools as in a court judgment: if a respondent fails to pay an arbitration award, the claimant may take the award to court and have it converted to a judgment. Statistics on Unpaid Customer Awards in FINRA Arbitration finra.org ? arbitration-mediation ? statistics-... finra.org ? arbitration-mediation ? statistics-...